- Research firm Singular Research projects growth for EVIO, analyzing company’s aggressive expansion and noting performance of legal cannabis industry as tailwind
- Newly launched Canadian subsidiary EVIO Canada signs binding agreement to acquire 50 percent of Edmonton, Alberta-based Keystone Labs, Inc.
- EVIO Labs provides testing and scientific research for the regulated cannabis industry
EVIO, Inc. (OTCQB: EVIO) has launched a new wholly owned Canadian subsidiary, EVIO Canada, which concurrently signed a binding agreement to acquire 50 percent of Keystone Labs, Inc., a licensed testing facility for medical cannabis based in Edmonton, Alberta (http://cnw.fm/8ansW). Both the EVIO Labs division and Keystone Labs offer quality testing for the regulated cannabis industry.
EVIO’s aggressive expansion into new markets, and the growth of the cannabis industry, was cited by Singular Research as it projected EVIO, Inc. to reach $10 million in revenues by FY2019 (http://cnw.fm/M1mhX). It noted a New Frontier Data estimate that the U.S. legal cannabis market will grow to $24.1 billion by 2025 (http://cnw.fm/WT5aY).
EVIO, Inc. is a leading provider of cannabis testing and scientific research for the regulated cannabis industry. The company’s EVIO Labs division operates coast-to-coast, providing state-mandated ancillary services to ensure the safety and quality of the nation’s cannabis supply. EVIO is on track to have 18 of its state-of-the-art testing facilities by year-end 2018.
Keystone Labs is a contract-testing laboratory licensed to offer a wide array of testing services, including testing of medical cannabis. It holds a Health Canada Controlled Substance License and is a licensed Good Manufacturing Practices (GMP) laboratory with a Health Canada license.
The launch of the new company and its binding agreement for acquisition marks EVIO’s first international expansion. Its aggressive growth was a key factor in the positive projections of Singular Research. The report cited favorable tailwinds in the cannabis sector and initiated its coverage with a $2 price target.
Singular offered analysis of EVIO’s aggressive expansion plans, citing its exploration of “opportunities in many regions including Maryland, Pennsylvania, New York, Michigan, and Canada.” It noted that the company also has aggressive plans to tap into California’s cannabis market.
For more information, visit the company’s website at www.EVIOLabs.com
More from CannabisNewsWire
CBDWire (CBDW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CBDNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CBDW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CBDW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.
For more information please visit https://www.cbdwire.com